Yes, and while that chart is certainly concerning, I don’t share the belief that that chart proves the fed caused all the inflation we are seeing.
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I agree that the Fed has not caused ALL of the inflation we’re seeing. I’m not sure anyone believes that. But it has surely caused a lot and almost certainly most of it. If you look at the expansion of all Central Bank balance sheets since the pandemic began, that expansion (alone!) is roughly 1/3 of global GDP. It doesn’t take an Economics PhD to see how that would cause a fvck-load of inflation. Yes, fiscal policies, Putin’s douchebaggery, etc have all contributed to the inflation we’re seeing, but the Big Source is… the Fed and the other Central Banks. It’s math. (Paul Volcker turns over in his grave.)
